Confido, an ICO startup has escaped with $374.000

The company founded to bring a new decentralized trustless payment solution for online shopping, which raised $374,477 in an ICO, has vanished
21 November 2017   777

Confido has suddenly closed down its website and social media accounts of Twitter, Youtube, Reddit, Medium. Coincidentally, yesterday Confido suffered a 90-percent drop in value after informing investors a legal issue will halt development of the project indefinitely.

According to a whitepaper of Confido.io - Confido is a payment solution developed to be used by both businesses and individuals. It provides secure escrow payments using smart contracts, without relying on a third party to control the money. The unique thing about Confido is its shipment tracking feature. Confido will track a package up to the point that it gets delivered, and will only then release the funds. This is all done in a decentralised and automated fashion using smart contracts.

The company raised $374,477, being on highest rates on November 14 and suffered significant decline on November 19.

Confido v.3. 2017Confido (CFD) Charts

After the disappearance of the company, a large number of investors lost their investments. Many forums users wrote about their despair linked with the loss of savings, not believing in their failure.

The Confido scam comes the same day a survey showed that 15% of institutional traders won’t deal with ICOs until tighter regulation arrives. While the extensive majority of ICOs are conducted in good faith, a few bad examples can ruin everything.

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Pantera Capital to Intend to Raise $175M for Crypto Fund

Whether the firm can achieve its funding goal is still unclear
16 August 2018   192

Pantera Capital intends to raise up to $ 175 million for its third venture fund, focused on the blockchain and cryptocurrencies, which marks significant progress against the background of the company's other two funds: the assets of the first of them are $ 13 million, the second - $ 25 million. This is reported by TechCrunch.

As reported, company's partner Paul Veradittakit says the target amount is a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”

Whether the firm can achieve its funding goal is still unclear. According to documents recently sent to the US Securities and Exchange Commission (SEC), it has already managed to raise more than $ 71 million with the participation of 90 investors. Veradittakit calls this event "the closing of the first transaction".

One of the company's new funds, which opened last year, has a hedge fund structure and focuses exclusively on the ICO. The founder of the company Dan Morehead said earlier that Pantera takes part in the first stages of such campaigns, "basically getting a discount to the ICO price by getting in early, when it’s just a team and a white paper."

The second fund of the company is engaged in investing in bitcoin and has managed to serve a large number of investors during its existence. According to Morhed's calculations, the fund, launched 5 years ago, demonstrated a return of 10 136%.

The last fund Pantera invests in cryptocurrencies, which are already traded on the exchanges. It uses machine learning for algorithmic investment and takes into account the views of the company's management when making investment decisions.